Azerbaijan, Guinea-Bissau explore energy collaboration

Guinea-Bissau is interested in Azerbaijan's expertise in the areas of oil and gas, geological exploration, energy transition, and decarbonization, Report informs, citing Azerbaijan’s Energy Ministry.

In this context, the parties discussed potential cooperation opportunities.

The discussions took place during a meeting between Azerbaijan's Energy Minister Parviz Shahbazov and a delegation led by Carlos Pinto Pereira, the Minister of Foreign Affairs, International Cooperation, and Communities of Guinea-Bissau.

During the meeting, the other party informed about Azerbaijan's internationally significant projects in traditional energy, including gas supplies to 12 countries.

It was noted that Azerbaijan is advancing in energy transition and decarbonization, with projects in the implementation stage that have attracted over $2 billion in investment in a short period of time. This has increased the share of renewable energy in the installed energy capacity to 33%.

The meeting also covered the national and regional energy transition, including the formation of a new legislative framework, cooperation with international investors directly and through auctions, and the creation of green energy interconnectors between Azerbaijan and Türkiye, Europe, and Central Asia.

Additionally, they exchanged views on energy initiatives related to COP29.

The meeting was also attended by Guinea-Bissau's Minister of Environment, Viriato Kassama, and representatives from the ministries of energy and natural resources, as well as the State Oil Company of Guinea-Bissau.